Segment Reporting (Tables)

3 Months Ended

Mar. 31, 2017

Financial information by segment was as follows (in thousands):



	Quarters Ended March 31,
	2017 ⁽¹⁾			2016 ⁽²⁾
Revenues:
Infrastructure Solutions	$	128,868		$	125,762
Corrosion Protection	123,390			92,446
Energy Services	72,917			75,700
Total revenues	$	325,175		$	293,908

Gross profit:
Infrastructure Solutions	$	31,251		$	29,744
Corrosion Protection	27,963			17,199
Energy Services	8,198			7,471
Total gross profit	$	67,412		$	54,414

Operating income (loss):
Infrastructure Solutions ⁽³⁾	$	5,610		$	5,808
Corrosion Protection ⁽⁴⁾	7,212			(5,670		)
Energy Services ⁽⁵⁾	1,311			(4,277		)
Total operating income (loss)	14,133			(4,139		)
Other income (expense):
Interest expense	(4,047		)	(3,615		)
Interest income	49			32
Other	(387		)	(973		)
Total other expense	(4,385		)	(4,556		)
Income (loss) before taxes on income	$	9,748		$	(8,695	)

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⁽¹⁾	Results include: (i) $0.1 million of 2014 Restructuring expense reversals; and (ii) $0.5 million of costs incurred related to the acquisitions of Environmental Techniques and other acquisition targets.


⁽²⁾	Results include: (i) $9.7 million of 2016 Restructuring charges (see Note 3); (ii) $0.2 million of 2014 Restructuring expense reversals; (iii) $1.0 million of costs incurred related to the acquisition of Underground Solutions and other acquisition targets; and (iv) inventory step up expense of $1.2 million recognized as part of the accounting for business combinations (see Note 1).

⁽³⁾

Operating income in the first quarter of 2017 includes: (i) $0.1 million of 2014 Restructuring expense reversals; and (ii) $0.5 million of costs incurred related to the acquisition of Environmental Techniques and other acquisition targets. Operating income in the first quarter of 2016 includes: (i) $2.2 million of 2016 Restructuring charges (see Note 3); (ii) $0.2 million of 2014 Restructuring expense reversals; (iii) $1.0 million of costs incurred related to the acquisitions of Underground Solutions and other acquisition targets; and (iv) inventory step up expense of $1.2 million recognized as part of the accounting for business combinations (see Note 1).


⁽⁴⁾	Operating loss in the first quarter of 2016 includes $2.7 million of 2016 Restructuring charges (see Note 3).


⁽⁵⁾	Operating loss in the first quarter of 2016 includes $4.9 million of 2016 Restructuring charges (see Note 3)

Summary of Revenues, Gross Profit, and Operating Income by Geographic Region

The following table summarizes revenues, gross profit and operating income by geographic region (in thousands):



	Quarters Ended March 31,
	2017			2016
Revenues ⁽¹⁾:
United States	$	257,724		$	223,569
Canada	26,827			27,619
Europe	16,145			13,821
Other foreign	24,479			28,899
Total revenues	$	325,175		$	293,908

Gross profit:
United States	$	56,032		$	39,862
Canada	4,514			5,414
Europe	3,159			2,789
Other foreign	3,707			6,349
Total gross profit	$	67,412		$	54,414

Operating income (loss):
United States	$	12,517		$	(7,552	)
Canada	1,460			1,569
Europe	408			159
Other foreign	(252		)	1,685
Total operating income (loss)	$	14,133		$	(4,139	)

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⁽¹⁾	Revenues are attributed to the country of origin for the Company’s legal entities. For a significant majority of its legal entities, the country of origin relates to the country or geographic area that it services.